01:29 PM EDT, 06/10/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1% and the Energy Select Sector SPDR Fund (XLE) up 0.9%.

The Philadelphia Oil Service Sector index jumped 3.2%, and the Dow Jones US Utilities index added 0.3%.

Front-month West Texas Intermediate crude oil climbed 2.7% to $77.58 a barrel while the global benchmark Brent crude contract was advancing 2.4% to $81.51 a barrel. Henry Hub natural gas futures were 1.6% higher at $2.97 per 1 million BTU.

In corporate news, Noble (NE) said it has agreed to buy Diamond Offshore Drilling ( DO ) in a stock-and-cash deal with an implied value of $15.52 per share. Diamond shares climbed more than 11%, and Noble rose 6%.